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2016-10-24

Interfox Resources: New York-Based Family Office Acquires Stake in Interfox Resources and offers financing to Fame Dragon

Esousa Holdings LLC ("Esousa"), a New York-based family office, has on
October 19, 2016, acquired 1,600,000 IFOX shares from FEPI via a
private sale. This is the result of several months' discussions about
a co-operation, relative to IFOX' intended sale of its sole asset.
Esousa had expressed a desire to build a position in IFOX in advance
of the asset sale. The binding contract for the transaction between
Esousa and FEPI was entered into already on September 26, 2016, but
certain technicalities related to the fact that this was a private
sale of European stock to a US entity delayed the execution to
October 19, 2016.

Esousa intends to play an important role for the financing of the
potential sale of Mezhlisa Resources Cyprus Ltd, IFOX' wholly-owned
subsidiary, to Fame Dragon (see press release July 4, 2016), and FEPI
is working closely together with Esousa for this purpose. Esousa has
already today submitted a firm offer to Fame Dragon for financing,
earmarked specifically for the planned transaction with IFOX.

The work towards a binding agreement between IFOX and Fame Dragon had
to be delayed until the above mentioned offer of financing was
submitted to Fame Dragon. With the offer now at hand, IFOX and Fame
Dragon have meetings scheduled for this week in Hong Kong and
Shenzhen. The exclusivity given to Fame Dragon (see Press Release
October 20, 2016) has been extended to November 1, 2016.

Based in New York, Esousa is a family office that has investments in
large-cap publicly traded companies, real estate development and
emerging growth companies. Esousa has a close co-operation with Crede
Capital Group, which has offices also in Beijing. The above mentioned
financing of Fame Dragon is a joint effort between Esousa and Crede.
Esousa has previously invested in several Chinese companies,
including Alibaba.

The Board Members of IFOX are very positive to having Esousa as a
substantial shareholder in the Company.

"IFOX Chairman Max Renard comments: We are pleased that the
transaction has taken place, in the anticipation that it will lead to
Esousa and Crede becoming large investors in Fame Dragon and playing
an important role in the sale of IFOX' wholly-owned subsidiary, which
have been negotiated with both Esousa and Crede since April this
year. The fact that a Western entity is willing to finance this
acquisition has brought a lot of credibility to the table in the
negotiations with Fame Dragon and this eventually became a
pre-condition to the closing of the sale of Mezhlisa."

Esousa's 1,600,000 shares correspond to 2.7% of the total shares in
the Company. FEPI, after the transaction, holds 13,741,241 shares,
corresponding to 23.3% of the total shares of the Company. FEPI has
committed to Esousa not to dispose of any further shares for 3
months, other than if needed for the execution of the contemplated
transaction with Fame Dragon.

For further information, please contact:

Thomas Häggkvist, responsible for financial reporting and investor
relations.

Email: thomas@interfox.com and telephone +46 70 552 26 22

Facts about Interfox Resources AB (publ)

Interfox Resources is a Swedish exploration company with focus on
exploration for oil and gas in Russia. In Russia, the company
controls one combined exploration and production license in the Tomsk
region of Western Siberia, the Elley-Igayskoye. The company has
initiated a work program with the purpose of converting resources to
reserves.

The Interfox Resources share is traded at Aktietorget under the short
name IFOX.

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http://news.cision.com/se/interfox-resources/r/new-york-based-family-off...
http://mb.cision.com/Main/10918/2107545/579273.pdf

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